An unusual auction on the weekend ended in the sale of 97 Hannan Street, Maroubra, by Cameron Airlie of Ray White Maroubra.
The hammer fell in less than 2.5 minutes after the vendor was forced to open the bidding with a bid of $800,000.
A buyer made an offer of $805,000 and when the vendor disclosed their reserve of $810,000 the buyer offered to match it.
About 35 people gathered to watch the sale, which Mr Airlie said represented good value for the area. The property was a semi on 250sqm block but lacked off-street parking. The media house price in Maroubra is $1,102,500.
Source: Southern Courier 24/04/2012